Budget chief: ‘MAGAnomics’ the way to get US economy back on track

Comments Off on Budget chief: ‘MAGAnomics’ the way to get US economy back on track

Mick Mulvaney is touting “MAGAnomics” as a way of getting the U.S. economy back on track in the same vein as Reaganomics.

“We introduced the term this week, which is called ‘MAGAnomics,’ which is sort of this unifying theme of everything we’re trying to do to get the healthy, traditional American economy back on track,” the director of the White House Office of Management and Budget said Thursday on “Fox and Friends.”

“It’s our version of Reaganomics,” he added. “You go back and look at what Reagan did in the 80s and the challenges they faced, and … we looked at the challenges we face.”

“MAGAnomics,” which is a play on the Trump campaign slogan “Make America Great Again,” or “MAGA,” consists of issues including tax and healthcare reform and energy dominance meant to revamp the U.S. economy, according to Mulvaney.“Those things all tie together in this concept,” he said on Fox News.

Mulvaney formally unveiled the concept in a Wall Street Journal op-ed in which he laid out the Trump administration’s agenda for achieving 3 percent economic growth.

Mulvaney’s comments come as the White House grapples with the collapse of the Senate Republicans’ healthcare bill, which has largely overshadowed issues such as tax reform.

He said on Thursday, however, that a tax reform proposal could be a few months away.

“While all of this discussion about healthcare has sort of made the news, Mr. Cohn and Mr. Mnuchin have been on the hill working with House and Senate leaders, House and Senate rank-and-file members to try and put some meat on that bone, and I think you’ll see a proposal very early in the fall,” Mulvaney said, referencing Treasury Secretary Steve Mnuchin and the director of the White House’s National Economic Council.